Category Archives: Commercial Equipment Leasing

Post navigation

A trucking business has the potential to generate a lot of money, but getting started can be costly. From leasing trucks and/or trailers to the additional expenses of:

Parts and maintenance

Employing drivers

Tracking software

Computers

Hardware

Daily expenses like fuel and tolls

Taxes

Licensing fees

There are a few ways to access the trucks and other machinery you’ll need to get started. Here are some of the best financing tips to get your trucking business up and running:

Equipment Lenders: Trucks and trailers are the bread and butter of your business, and therefore the most important equipment you need to obtain. Equipment lender companies manufacture and sell trucks and other related equipment, so they’re able to provide custom solutions to companies dependent on their specific (or not so specific) needs. In this way, you’re able to get a hold of the equipment you need when you need it and pay your lenders back in payments.

Franchise Agreements: This is most cost-effective way to get trucking equipment. A franchise agreement allows you to access tucks more quickly and efficiently, but you’re under a contract and subject to certain franchising fees. You’re also under the pressure of having to make money to cover your upfront spending.

Freight Bill Factoring Financing: One of the biggest challenges of running a trucking business is the delay in revenue. You’re pressed to meet operating expenses, which doesn’t leave much room for you to turn a profit. Fortunately, freight bill factoring financing can help you solve immediate cash flow issues. An outside facility provides you with advances in funds to pay bills and takes over your invoices to await payment from your clients.

Bank Loans: A loan can address your cash flow issues, but it comes with stringent conditions. You’ll need a decent operational history and fixed assets to satisfy the bank for collateral. Without these, you’ll have a difficult time securing a loan.

As a business owner, you shouldn’t have to jump through hoops to start your trucking business. Liberty Financial can provide you with a solution that works for you! We’ll help you obtain the tractor-trailer financing you need. Our process is quick and easy, and we can create a repayment plan that is tailored to your business model. Contact us today for more information on our commercial truck financing.

If you run a commercial operation that requires heavy lifting, a commercial vehicle can help. You might think that purchasing a commercial vehicle is handled in the same way as purchasing a personal vehicle, but a few other factors fall into the process. Learn more about purchasing a commercial vehicle and how a loan from Liberty Financial can help you achieve your business goals.

Commercial vehicles are expensive. For this reason, it’s extremely common to take out a loan in order to get your operation up and running quickly and efficiently. To obtain a commercial vehicle loan, you must first know which type of truck you are trying to finance. Different trucks have different rules and qualifications, making it important to be are aware of whether your vehicle is considered a transportation vehicle or a vocational truck.

Next, you’ll need to consider is a down payment. To determine how much you will need to put down on a truck, look at how long you’ve been in business, your credit score, whether you’re the owner/operator, who you are buying from, any cash reserves you may have, and the age of the truck to be purchased. Where you fall in each of the categories will determine how much or little you will have to put down. If you or your company poses some type of risk, the down payment can increase.

To give yourself a better idea of your financial standing, some good questions to ask yourself are:

Have I been in been business for at least two years?

Is my credit score better than 600?

Have I ever filed for bankruptcy?

The answers to these questions will give you a better idea of whether or not you’ll qualify for a commercial vehicle loan.

It’s harder for new business owners to qualify for a commercial vehicle loan rather than for someone who’s been around and experienced some of the challenges involved. With that being said, a low credit score doesn’t immediately take you out of the running. Your credit score helps the company decide what your monthly payment is going to be, not whether or not you will qualify.

Age does matter when it comes to obtaining commercial vehicle loan. The older the truck, the more likely it is to break down and become a liability. Keep in mind that just because a vehicle may be cheaper, it doesn’t mean it will be worth the buy. Most companies are hesitant about approving a loan on a truck over 15 years old. To be safe, look for trucks 10 years old or less.

There is one aspect of running a business that you cannot avoid, particularly in the commercial industries. Businesses that require commercial machinery also require investments in the form of time, resources, and money. Most often, these business owners rely on loans or financing to cover the cost of the equipment needed to turn a profit.

Whether you are a startup founder looking to stock up your company with the bare necessities, or a well-known business owner wanting to replace your outdated supplies. Typically, banks use a credit score to determine whether or not a person is a dependable borrower. If you are a business owner with a low credit score, you may have a tough time being approved for a loan and obtaining the equipment you need to do business.

Liberty Financial wants you to know that you can still apply for a loan to finance business equipment with bad credit. Here’s how:

Apply with a co-signer. If you have poor credit, the first thing you should do when applying for an equipment loan or financing is to try to find a credible co-signer. If you default on your payments, it then becomes the responsibility of your co-signer to pay what is due.

Offer collateral. If you aren’t able to find a suitable co-signer, offering up collateral can help. Your collateral could come in many forms, including your property or any assets you have that are worth monetary value. These are used in exchange for a loan and as such, allow a lender to feel more secure in offering you financing. If you fail in making your payments as promised, they are able to seize your possessions.

Put down a large deposit. In an effort to look better to lenders, put down a larger down payment or security deposit. Doing so reduces the loan by a sizeable amount and will make the lender feel more secure about loaning the money. Only do so if you have the funds; if you put down too much up front and aren’t able to pay your monthly fee, it could have an adverse effect.

Show off your assets. If your business is already thriving and has started to turn a profit, use that information in your “pitch” to your lender. When you apply for a loan, show documented proof of such to your lender, as well as any sale projections or expected company growth. The better your company looks on paper, the easier it will be to obtain a loan for equipment.

Commercial business owners need equipment. If you’re a business owner with a low credit score, it doesn’t have to stop you from being able to afford the equipment you need to be successful. These tips will help give you the best chance at being approved for a business loan, regardless of your credit.

Starting a business is a wild, exciting, and invigorating journey that requires a lot on your part. Once you’ve succeeded in establishing a business, the next step is to nurture it and watch it grow. This might require hiring a team of people, or branching out into new markets. Whatever the case, these tips for growing your business will help you along your way.

Run the business you want. While you aren’t going to become the business you want to be over night, you should still run your business as if that were a reality. Evoking the confidence and success of the business you one day hope to have will help you impress current clients, attract new ones, and provide your employees with a sense of poise and purpose. Project your business goals each day to help push your company closer to success.

Maintain your confidence. Even when something unexpected happens or something goes awry regarding your business, it’s important to remain positive. When employees or customers see you panic, it can quickly send them into a panic, causing them to question why they work with you. A business cannot run without mishaps. It is how you choose to handle those mishaps that define how you run your business and what the future holds for it. Remain confident, even when things go wrong. Recognizing your mistakes and learning from them will allow your business to grow.

Separate your bank accounts. Keeping your personal funds in an account separate from your business income will help prevent you from taking from that account. You might think that because it’s your business, the money earned and placed into the company bank account is yours as well. Your business requires money, a resource, to continue to grow. When you take money from that account, you are limiting your business to any potential growth. Your business account should be used for just that – business.

Accept “no” as an answer. You are not going to succeed in every endeavor. Take each day in stride, and try your best to learn from your mistakes. What could you have done better to land that client? How can you communicate your message more clearly next time? A “no” from a potential client or investor allows you to evaluate how you are operating your business currently and see opportunities for growth.

Hire the right people. You may feel like you can handle your business on your own, or maybe even like you complete certain tasks the best, but really that’s not the case. In order for your business to grow, you need to hire and properly train the right people. One of the most positive signs of company growth is the need to hire new people. With the right talent on your team, your business will thrive.

Take a look at your competition. Understanding what your competitors are offering their customers and how they do day-to-day business can help you evaluate how you run your own business. It can also help you see potential areas of growth. Make it a priority to check into your competitors marketing strategies and/or new products every quarter. Knowing your competition is one thing, but looking at how they do business will give you a whole new edge.

Know which risks to take. Taking calculated risks (once you’ve evaluated the outcomes, of course) can help take your business to the next level. Consider all of the factors in any given situation, including threats and opportunities, before you make the decision to move forward.

Remember to always remain passionate about your product or industry. Your drive is what will ultimately make or break the successful growth of your business.

Internet and digital technologies have changed the business landscape by empowering consumers more than ever. Consumers no longer need advertisers to speak to them to influence buying decisions. Rather, consumers instantly share recommendations with friends, as well as complete strangers, making the opinion of other consumers the biggest determiner of which products and services consumers buy.

Brands need to work harder to be heard by the empowered consumer who shares information about your business. Liberty Financial Group can help.

Liberty Financial Group, Inc. is an independent, direct commercial equipment lender that provides direct financing and leasing for all types of new and used essential commercial equipment. The dedicated, experienced account managers at Liberty Financial are available to assist you in financing the equipment you need to expand your brand and gain customer share in this competitive environment.

First, lets define “branding”

Unlike marketing, branding is not push, but pull of the customer toward your product or service. It is not “salesy”, but rather is the expression of the essential truth or value of your organization, product, or service. A brand is built from many things and what determines customer loyalty.

Equipping your business with the right equipment can help increase sales, improve efficiency and make a dramatic improvement in your bottom line. Additionally, equipment and technology are extensions of your company’s brand, and therefore play an important role in how your company is perceived by your customers and prospects.

Ask yourself these important questions about how your commercial equipment is impacting your brand:

While much has been made of the tax implications of healthcare requirements for individuals and businesses, the issue of capital investments and real estate improvements can become significantly more expensive in 2014. Getting a quote now for direct financing and leasing of equipment now will save companies tens of thousands of dollars if not more.

Depreciation Bonuses and Section 179 Overview

Commercial equipment financing and leasing carry significant cost savings for companies who choose to enter into agreements prior to 2014. In the case of a fair market value lease of equipment, companies may be able to deduct the entire cost of the lease from their tax hit. In the case of the standard 35% tax bracket that would afford a corporate tax savings of $1,750 per month or $42,000 over the course of a 24-month lease.

In the case of direct financing, other clauses in Section 179 of the IRS code offer up to $500,000 for the purchase price of equipment bought and/or financed in 2013. This deduction drops drastically to $25,000 beginning in 2014. In total, the current cap on capital purchases will drop to $200,000 in 2014 from $2 million. In addition, there is a special bonus depreciation of 50 percent for qualified property purchases other than certain aircraft.

The business world moves fast. As a small business owner or entrepreneur it is imperative that you have to keep up, or ahead, of the trends or your business will not survive. Mark Zuckerberg, founder and CEO of Facebook, a master at this maxim, requires his employees to write this simple mantra down regularly as a reminder of his business philosophy: “move fast and break things.” The idea is, unless you are breaking some stuff you are not moving fast enough.

If you are the owner of a small business, you can’t afford to be left behind. As such, you must be aware of the trends in small business finance as Q4 quickly approaches. To quote another popular adage for achievement in life, sport or business: Finish strong!

Liberty Financial Group, Inc. provides direct business equipment financing and leasing for all types of new and used essential commercial equipment, specializing in the transportation industry. One division of the transportation industry (which may not be top-of-mind for most people) is that of the septic profession.

Vacuum trucks and trailers are an essential component in the collection and proper disposal of wastewater. Sewage is the subset of wastewater, but is often used interchangeably to mean any wastewater. Sewage includes domestic, municipal, or industrial liquid industrial waste products, including salt brine, filter media, oil separator sludge, paper pulp, vegetable processing and animal byproducts such as cattle shed effluents and slaughterhouse wastes.

Garbage trucks are a unique and expensive purchase, but one that is fundamental if you plan to start your own sanitation business. You will need the services of a finance company that understands the sanitation business and is experienced in financing these types of specialty vehicles. Liberty Financial Group, Inc. provides direct financing and leasing for all types of essential new and used commercial equipment and specializes in the transportation industry.

Unlike its competitors, Liberty Financial Group is creative and flexible – offering nontraditional structures and special programs when appropriate. Banks or traditional financial institutions are typically not be willing to finance garbage trucks because they are unique in nature and have very distinct purposes.

A forklift truck (also called a lift truck, a fork truck, or a forklift) is a powered industrial truck used to lift and transport materials. Forklifts are essential for a variety of businesses and become an indispensable piece of equipment in most manufacturing and warehousing operations.